Timken India (522113) Q1 25/26 earnings summary

Executive summary

• Q1 FY26 revenue reached INR 808.8 crore (₹8,088.17 million), up 3.2% year-over-year, marking the best-ever first quarter despite seasonal softness after a strong Q4.

• Unaudited financial results for the quarter ended June 30, 2025, were approved by the Board on July 31, 2025.

• The financials have been reviewed by the Audit Committee and subjected to a limited review by the statutory auditor, with an unmodified report.

• PBT was INR 130.4 crore (₹1,304.32 million), flat year-over-year and lower sequentially, with a healthy margin of 16.1% supported by cost control.

• Operational focus remains on execution excellence, supply chain efficiency, and capacity building for future growth.

Financial highlights

• Revenue from operations for Q1 FY26 was INR 808.8 crore (₹8,088.17 million), up from INR 783.7 crore (₹7,837.01 million) year-over-year.

• Net profit after tax for the quarter was ₹1,042.24 million, compared to ₹1,053.43 million in the same quarter last year.

• PBT margin stood at 16.1%, slightly down from 16.6% in Q1 last year.

• Rail segment revenue was INR 156.5 crore (24%), mobile INR 156.9 crore, distribution INR 146 crore (18%), cranes INR 142 crore (18%), and exports INR 164 crore (20%).

• Export incentive for the quarter was INR 36 million.

Outlook and guidance

• Management remains cautiously optimistic amid macroeconomic uncertainty, expecting slow and steady growth in rail and process segments.

• Rail and process markets are projected to grow at high single digits, in line with GDP growth expectations.

• Bharuch plant utilization expected to reach 45-50% by year-end, with increasing domestic and export orders as customer qualifications progress.

• The Board and management have not provided specific forward-looking guidance in the reviewed period.